Weekly Trade Spotlight: Trade in Minnesota
Ambassador Kirk will travel this week to Minneapolis, Minnesota to co-host a one-day conference, entitled “New Markets, New Jobs.” The Ambassador and members of the Obama Administration will talk to small business owners about how to break into international markets. This week’s trade spotlight focuses on how Minnesota businesses and workers benefit from exporting.
All across the Land of 10,000 Lakes, business owners, workers, farmers and manufacturers rely on trade. In 2009, goods exports from Minnesota totaled more than $15 billion, supporting 155,000 local jobs.
In the past decade, Minnesota’s exports of manufactured products increased by more than 50 percent. Goods such as computer and electronic products, machinery, and transportation equipment were exported across the world.
Small businesses like Mattracks, Inc. in Karlstad benefit from various international trade opportunities. A rubber-track manufacturing firm, Mattracks sells its track system models to customers in more than 70 countries. Exports account for almost half of the company’s revenue and support more than 45 employees.
Minnesota is also a leading producer of agricultural products. Local farms and ranches are known for exporting high-quality soybeans, feed grains and wheat. These exports support more than 60,000 jobs both on and off the farm.
USTR is working to open markets around the world, helping to increase exports and support well-paying jobs for more Minnesotans.